PM Modi announced implementation of PM Cares For Children in an effort to assist children whose parents died as a result of the Covid-19 pandemic.
The decision was taken following a high-level review meeting chaired by the prime minister to deliberate on the impact of the pandemic on children and how to mitigate it.
PM Cares will contribute through a specially designed scheme to create a corpus of Rs 10 lakh for each child when they reach 18 years of age. The corpus will be used to give a monthly stipend from 18-23 years of age to take care of the child's personal requirements during the period of higher education. On reaching the age of 23, the child will get the corpus amount as a lump sum for personal and professional use.
The government will also ensure free education for such children.